Once again, a European study documents the benefits of working actively with Intellectual Property Rights, also known as IPR.
On 25 October 2016 the European Patent Office (EPO) and the European Union Intellectual Property Office (EUIPO) presented their report “Intellectual property rights intensive industries and economic performance in the European Union”, which affirms the many economic benefits of working actively with IPR in Europe. For instance, the study shows that:
- 42% of the total economic activity in the EU (approximately 5,7 trillion EUR) is generated by IPR intensive industries
- 38% of all employment in EU (82 million jobs) comes from industries that pay more than average attention to IPR.
- Wages in IPR active industries are in average 46% higher than in other industries.
Finally, the report shows that IPR active industries play a significant role in EU trade with an 85% share of imports and a 95% share of exports.
After several years of economic turmoil, it is interesting to discover how industries working actively with IPR are less exposed to economic fluctuations than other industries. One explanation may be that IPR active industries are accustomed to thinking innovatively and finding new solutions. Moreover, the findings may be connected to the fact that when a company has registered its rights, it is often easier for them to attract new investors.
Does your company wish to work more actively with IPR, or are you considering how IPR might fit into your business plan and create more value, please contact our qualified experts who are able to tailor a solution that fits your company in particular.